Utterly disappointed

[Ass0ciatedPress]

There are no words for how I feel right now.

Looks like a total transformation of the company. Gulf LNG not mentioned anymore. Interoil will not be a LNG operator. Focused on refinery and distribution business. What a freaking joke. I'm pissed off

http://www.interoil.com/iocfiles/documen...0Final.pdf

[TxPm]

I think you are reading this wrong. They are saying they have no plans to operate it themselves. That doesnt mean there wont be another LNG plant in our future outside of PNG LNG it just means we wont be operating it. We will leave that to the big boys since thats clearly what the govt wants

[Palm]

Exactly Tx. They have been hammered in the past for hinting that they will operate an LNG plant. PNG has said "no". This is being made clear to wipe that from the slate. They will partner with accepted operators, explore and operate their downstream.

[Ass0ciatedPress]

I think you are reading this wrong. They are saying they have no plans to operate it themselves. That doesnt mean there wont be another LNG plant in our future outside of PNG LNG it just means we wont be operating it. We will leave that to the big boys since thats clearly what the govt wants

txpm

txpm

you may me right but this seems like a fundamental shift to me. Goes back to my fear of the original LNG proposed deal in which we sell the gas in ground for a significant discount and receive no participation in LNG plant ownership.  It's like old school mercantilism IOC appears to want to focus on middling refinery and a distribution business with exploration and resource monetization also mentioned. If that is the case they are probably pursuing oil at all costs, to help make those businesses more profitable. I don't understand this when we are sitting on one of the lowest cost gas fields in the world.

I hope I'm wrong , but there seems to be a fundamental shift here.

[TxPm]

Let me counter that by asking is a fundamental shift bad? Look at where OSH's current market cap is compared to IOC's and they arent operating any plants they are non-operator owners like it appears we are now going to be. While this may be a different course I for one am excited about it. IOC's value lies underground and this new strategy seems to be focused on creating value from those assets much quicker than the old strategy. If what we all heard was true and there were 5-6 bidders for E/A that leaves 4 to 5 losers that we can go back to about exploring Wahoo and our other fields. Once all of those fields start being declared reserves on our balance sheet you will see the pps skyrocket

[cybersssss]

IOC was NEVER going to be an LNG plant operator. Phil might have not understood that but the government essentially forbid that per the 2009 PA. Otherwise they would be using EWC modules not a la Phil.

Now you are just reading on paper.

[jft310]

IOC was NEVER going to be an LNG plant operator. Phil might have not understood that but the government essentially forbid that per the 2009 PA. Otherwise they would be using EWC modules not a la Phil. Now you are just reading on paper.

Who needs to understand this??the earnings report is required by the regulatory authorities. Deal updates are separate and after the earnings release. We have now have that release. IOC may now update us as regards the deals on the upcoming conference call

[Petro2458]

It clearly says "non-operated LNG". No change - just less BS. Short and sweet. Still no deal details.

[sydbod]

Gentlemen, don't be so pessimistic ....... that is my job.
IOC is a better version of OSH, and in probability will ramp up at least as fast, if not faster than OSH has over the last 10 years.

OSH went from $1 up to $8 over the last 10 years as a steady climb.
http://hfgapps.hubb.com/asxtools/Charts.aspx?asxCode=OSH&compare=comp_index&indicies=0&pma1=0&pma2=0&volumeInd=9&vma=0&TimeFrame=M10

Would you be all that upset if IOC only climbed from $80 up to or better than $640 over the next 10 years. (this is my worst case scenario expectation )

AND ....... as JFT301 said " We have now have that release. IOC may now update us as regards the deals on the upcoming conference call ", and if this turns up trumps, then you will all be laughing at my ill informed pessimistic expectations.

[jft310]

Dr Hession states Exxon details later on call